Flexera to Acquire FinOps Business from NetApp

Flexera, a suburban Chicago-based technology spend and risk management company, has entered into a definitive agreement to acquire NetApp’s FinOps business, currently marketed as “Spot by NetApp.”

The combination of Spot’s artificial intelligence (AI) and machine learning (ML)-enabled technology and Flexera’s hybrid cloud position is expected to offer a comprehensive FinOps solution that enhances financial accountability and efficiency in cloud operations, and also aligns with the expanding scope of FinOps which now includes data centers, SaaS applications and public cloud along with the growing FinOps framework that includes software licensing and sustainability. The acquisition will add new capabilities such as Kubernetes cost management and commitment management to Flexera’s FinOps portfolio.

“A tsunami of artificial intelligence applications is exponentially increasing organizations’ consumption of cloud resources,” said Jim Ryan, President and CEO of Flexera. “Yet, we hear from many organizations about the difficulty in answering basic questions like ‘what technology services do we use?’ and ‘why are our cloud bills so high?’. Our acquisition of Spot is the next step in Flexera’s strategic plan to provide organizations with a full panorama of their technology spend and risk across the entire IT ecosystem.”

This decision reflects NetApp’s sharpened focus and underscores our commitment to intelligent data infrastructure and long-term growth opportunities,” said Haiyan Song, Executive Vice President, Intelligent Operations Services, at NetApp. “After a thorough evaluation, it is clear that Flexera’s established expertise and global reach provide the ideal environment for the Spot business to thrive and scale.”

The transaction is subject to customary closing conditions, including the receipt of required regulatory approvals. Financial details of the transaction were not disclosed.

Channel Impact^®
The transaction is expected to enable customers and partners to address growing cloud cost and usage needs, enrich FinOps MSP ecosystem and add container cost management to Flexera FinOps portfolio.